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To: Bucky Katt who wrote (39094)1/30/2009 7:32:29 AM
From: Eagle  Read Replies (2) | Respond to of 48461
 
Oh, don't ask about DRYS

i made 100% and more in the last month thanks to margin--just last week after the first problem came to light --cancellation of new ships--an analyst following it still put a target of 50 on it-so it still looked great --after latest problem with lenders -yesterday Oppenheimer said value is 8
--i believe that in the past 2 weeks it has lost all credibility and it has dragged down many other shippers

As you probably know all of the carnage--DRYS in 08 climbed from 40 to 116 then fell to 3 then rose to 15 in a month --comes from the Baltic Dry Index falling from 11,000 to 600 or 700 --now the index has climbed like 9 days in a row to over 1000 -- so things MAY be looking up for the shippers but the whole area is like a minefield at the moment

DRYS was one of the best day trading stocks in history over the past 2 years --often $5 in one direction--but tough to call now because of the continuing surprises by the company